Public Storage (PSA) Releases Earnings Results, Beats Expectations By $0.02 EPS

Public Storage (PSA) reported quarterly earnings results on Tuesday, Apr-26-2016. The company said it had a profit of $2.21 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $2.19. The company posted revenue of $611.80 million in the period, compared to analysts expectations of $573.24 million. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 EPS.

Many Wall Street Analysts have commented on Public Storage. Public Storage was Downgraded by Goldman to ” Sell” on Apr 25, 2016. Company shares were Reiterated by Barclays on Feb 22, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 232 from a previous price target of $218 .

Public Storage opened for trading at $255.8 and hit $257.16 on the upside on Friday, eventually ending the session at $256.94, with a gain of 0.73% or 1.85 points. The heightened volatility saw the trading volume jump to 7,84,992 shares. Company has a market cap of $44,520 M.

In a different news, on Mar 17, 2016, Candace N. Krol (CHRO & SVP) sold 3,000 shares at $263.50 per share price. According to the SEC, on Mar 4, 2016, David F Doll (SENIOR VICE PRESIDENT) sold 20,000 shares at $252.25 per share price. On Dec 16, 2015, John Reyes (SENIOR VICE PRESIDENT / CFO) sold 25,000 shares at $248.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Public Storage (the Trust) is a real estate investment trust (REIT). The Trust’s principal business activities include Domestic Self-Storage European Self-Storage and Commercial. The Trust acquires develops owns and operates self-storage facilities which offer storage spaces for lease on a month-to-month basis for personal and business use. It has direct and indirect equity interests in self-storage facilities in the United States operating under the Public Storage brand name. The Trust has an around 49% equity interest in Shurgard Self Storage Europe Limited (Shurgard Europe) which owns approximately 192 self-storage facilities (10 million net rentable square feet of space) located in seven countries in Western Europe operated under the Shurgard brand name. The Trust has an around 42% equity interest in PS Business Parks Inc. (PSB) a publicly held REIT which owns and operates around 28.6 million net rentable square feet of commercial space.

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